Forum Replies Created

Viewing 2 posts - 1 through 2 (of 2 total)
  • Profile photo of KevmeisterKevmeister
    Member
    @kevmeister
    Join Date: 2002
    Post Count: 2
    September 5, 2002 - 5:48 am

    chucky:

    no, not that Kevin.

    Profile photo of KevmeisterKevmeister
    Member
    @kevmeister
    Join Date: 2002
    Post Count: 2
    September 5, 2002 - 2:30 am

    A dumb question, but why would a lender (the bank or the vendor) want to be in a situation where the LVR is 100%?

    The $500K property is security for $400K to the bank and $100K to the vendor.

    I have no real knowledge of 2nd mortgages so is the bank more entitled to the security (as a 1st mortgage) than the Vendor, with a 2nd Mortgage, if something goes wrong?

Viewing 2 posts - 1 through 2 (of 2 total)